Advance Auto Parts’s “Overweight” Rating Reaffirmed at JPMorgan Chase & Co. (AAP)
Advance Auto Parts (NYSE:AAP)‘s stock had its “overweight” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday. They currently have a $145.00 target price on the stock, up from their previous target price of $143.00. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 10.19% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura reiterated a “neutral” rating on shares of Advance Auto Parts in a research note on Friday. They now have a $135.00 price target on the stock, up previously from $125.00. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Advance Auto Parts in a research note on Friday. They now have a $155.00 price target on the stock, up previously from $150.00. Finally, analysts at RBC Capital raised their price target on shares of Advance Auto Parts from $149.00 to $155.00 in a research note on Friday. They now have a “top pick” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $138.25.
Advance Auto Parts (NYSE:AAP) traded up 0.75% during mid-day trading on Friday, hitting $132.58. 348,133 shares of the company’s stock traded hands. Advance Auto Parts has a 52-week low of $78.91 and a 52-week high of $136.12. The stock has a 50-day moving average of $128.3 and a 200-day moving average of $124.6. The company has a market cap of $9.661 billion and a price-to-earnings ratio of 23.18.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 14th. The company reported $2.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.01 by $0.07. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion. Analysts expect that Advance Auto Parts will post $7.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 3rd. Investors of record on Friday, September 19th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.18%.
Advance Auto Parts, Inc (NYSE:AAP) is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.
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